CBRL pegs fiscal-2007 Cracker Barrel sales at $2.4 billion

MikeMaynard

WASHINGTON (MarketWatch) -- CBRL Group Inc.
CBRL, -0.07%
parent of the Cracker Barrel Old Country Store restaurant chain, sees full-year sales for Cracker Barrel of about $2.4 billion. The forecast reflects the company's first-quarter results as well as plans for opening 19 new Cracker Barrel stores during the year, the company said. Management's also looking for comparable-store restaurant sales rising by 1% to 3% for fiscal 2007, as well as comparable-store retail sales growing by 5% to 7%. A 53rd week in fiscal 2007 should add an estimated $45 million to $50 million to revenue, CBRL Group said. In addition, management's expecting operating income margins from continuing operations for fiscal 2007 to be "approximately equal" to margins generated during of fiscal 2006. CBRL Group also said it anticipates completing the divestiture of its Logan's properties during fiscal 2007.

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